Second citizenship for Europeans: how to protect yourself and your family with a second passport

The Russian invasion of Ukraine in 2022 drastically changed the political and economic situation across Europe. While the war remains relatively distant from most EU countries, their citizens are growing more uneasy as time passes, and the situation shows slight improvement.

Concerns are rising about the safety of families, the preservation of assets, and the future in general.

Politicians are deeply concerned. For example, Josep Borrell, Vice-President of the European Commission, has stated that Russia’s war of aggression against Ukraine is an existential threat to the European Union.

Escalation of the conflict. There are growing fears that the current conflict may spread to other European countries. EU citizens are worried about the possibility of their home countries being drawn into military actions.

Return of conscription. Due to rising tensions, mandatory military conscription, previously abolished in several European countries, may be reintroduced. This could affect all EU citizens.

Economic instability. Even if the war does not reach EU countries, the conflict between Ukraine and Russia continues to impact the region’s economy severely.

In March 2025, European Central Bank President Christine Lagarde warned that Europe faces exceptional trade shocks. This could lead to inflation volatility, significant price increases, and decreased purchasing power.

For example, in 2022, inflation rates in the EU have increased at a higher rate than in Ukraine. In Ukraine, inflation doubled, while in the EU, it tripled.

In light of all the risks, EU citizens are increasingly considering obtaining second citizenship. This would allow them to relocate to safer countries, protecting themselves, their families, and their financial assets.

Citizenship by investment programs offer the fastest and easiest path to a second passport. Investors contribute to the chosen country’s economy and obtain citizenship in as little as a year.

1. Freedom to relocate. Currently, 9 EU countries have compulsory military service, while others have abolished it.

However, the government proposes reintroducing it in some countries, such as Italy and Germany. For instance, the German army plans to reach 203,000 military personnel by 2030, compared to 180,000 today, which could be achieved through compulsory conscription.

In such a scenario, men might be unable to leave the country, even if they are not conscripted. Holders of second passports, however, will be able to relocate to a safe country that does not have compulsory military service.

2. Family protection. In any conflict or period of instability, protecting family members is essential. Citizenship by investment programs extend to immediate family members, including spouses and children. This means that in emergencies, the entire family can relocate together, with each member enjoying the legal rights and protections of the new country.

3. Safety and peace of mind. In times of crisis, whether political or otherwise, levels of depression and anxiety can rise significantly. For instance, in 2020, due to the COVID‑19 pandemic, the prevalence of anxiety and depression increased by 25%.

In situations of conflict affecting only certain parts of the world, having a second citizenship allows one to relocate to safer places, thereby reducing stress as all risks and threats remain far away.

Caribbean states, distant from countries with political conflicts, are peaceful and safe, welcoming locals and having low crime rates.

4. Financial security. Stock markets can collapse in times of crisis, leading to significant financial losses. Investing in securities or real estate outside the EU helps protect and diversify assets. For instance, citizenship in the Caribbean states or Türkiye can be obtained through contributions to securities and properties.

Banks may restrict certain types of transactions, such as international transfers and large withdrawals, or reduce the amount of credit they offer. EU citizens with second citizenship can open bank accounts in multiple jurisdictions, protecting their assets.

5. Tax optimisation. Personal income taxes in some EU countries can consume a large portion of one’s income. For instance, in Spain and Austria, it can reach 55%; in France, it can be as high as 55.4%; and in Denmark, it is up to 55.9%. In comparison, Türkiye has a personal income tax rate of up to 40.8%.

Turkish corporate tax, at 25%, is also lower than in some EU countries. For example, in Malta, the corporate tax rate is 35%; in Portugal, it is 30.5%; and in Germany, it is 29.9%.

Inheritance, dividends, and capital gains are also subject to taxation in EU countries. By contrast, investors can be exempt from these taxes in Caribbean states. For instance, St Lucia does not impose taxes on dividends or capital gains, while in Grenada, interests, dividends, and capital gains are not taxed.

6. Access to new markets. During economic and political instability, businesspeople may face challenges operating within the EU market, including supply chain disruptions, rising prices, and labour shortages.

Persons holding dual citizenship can register businesses in new jurisdictions and access new markets, such as CARICOM, which has an 18 million population.

7. Legacy. Second citizenship is often transferable to descendants, offering future generations greater flexibility in choosing where to live and work. Countries where citizenship can be passed onto future generations include Türkiye, Dominica, and St Kitts and Nevis.

Citizenship by Investment, or CBI, programs offer foreigners the opportunity to obtain citizenship by investing in a country’s economy. It is the easiest and fastest path to a second passport and provides peace of mind.

CBI programs are official routes to citizenship created by governments and regulated by the countries' laws. The goal is to attract foreign investments to develop the economy and infrastructure. Essentially, this is a legal and transparent process where the applicant makes a certain investment and receives the country’s passport after passing a background check.

Investors can often choose among 2 to 4 options, including the following:

• non-refundable contribution to a state fund;

• purchase of real estate—a share or full dwelling;

• contribution to a business;

• purchase of securities.

Some of the countries with CBI programs are Caribbean states: Antigua and Barbuda, Dominica, Grenada, St Lucia, St Kitts and Nevis—Türkiye, and Vanuatu.

Eligibility requirements typically include the following:

• invest;

• have an impeccable reputation with no criminal record;

• pass Due Diligence by the country’s authorities;

• prove the legality of the income and sources of investment;

• in some cases, having no serious illnesses is required.

Estimated сosts. The investment threshold depends on the country and the chosen option:

• in Vanuatu, applicants contribute at least $130,000;

• in the Caribbean states, the minimum investment is $200,000 in Dominica;

• in Türkiye, the citizenship by investment program requires at least $400,000.

Contributions to state funds are usually non-refundable, while real estate can be sold in 3 to 7 years, depending on the country. Those purchasing securities can sell them in 3 to 5 years and gain additional profits.

Besides the investment itself, there are additional costs such as government fees, Due Diligence fees, and legal consultation services. As a result, the program’s overall cost will exceed the minimum investment threshold.

The processing time typically varies:

• Vanuatu offers the fastest route to citizenship—1 to 4 months;

• Caribbean countries process applications within at least 6 months;

• Türkiye citizenship is obtained in at least 8 months.

Time frames mostly depend on the speed of document verification and the workload of government authorities.

The Dominica Citizenship by Investment program is the most affordable among the Caribbean states. Foreigners can obtain the country’s passport in exchange for investing at least $200,000 in a state fund or real estate.

The fund contribution is non-refundable, while real estate can be sold after 3 to 5 years of ownership, depending on the buyer.

An Antigua and Barbuda passport can be obtained by investment in the following:

• state fund—$230,000+;

• real estate—$300,000+;

• higher educational institution—$260,000+;

• business—$400,000+; applicants can invest individually or in a group.

Contributions to the state fund and higher educational institutions are non-refundable. Real estate can be sold after 5 years.

The option of investment in a higher education institution is explicitly designed for families with at least six members. One family member under 29 can study for free for one year at the university.

Grenada citizenship is granted in exchange for the investment in one of the following:

• National Transformation Fund—$235,000+;

• government-approved real estate—$270,000+.

The contribution to the fund is non-refundable, while real estate can be sold 5 years after obtaining Grenada citizenship.

The sum of $270,000 applies to the real estate option if the following requirements are met:

• the investor purchases a share in an approved tourist real estate project;

• at least two people invest in the project;

• the joint sum of investment is at least $440,000.

In other cases, the investment threshold for real estate purchases is $350,000.

St Lucia Citizenship by Investment program offers five options:

• non-refundable contribution to the state fund—$240,000+;

• purchase of government bonds—$300,000+;

• purchase of real estate—$300,000+;

• investment in a business—$1,000,000+; it is possible to invest individually or in a group;

• investment in an infrastructure project—$250,000+.

Bonds can be redeemed, and real estate can be sold 5 years after obtaining St Lucia citizenship.

St Kitts and Nevis Citizenship by Investment program consistently ranks first among the best CBI programs. The country’s passport is granted in exchange for investment in the following:

• state fund—$250,000+;

• Public Benefit Project—$250,000+;

• real estate—$325,000+.

The real estate option has three variants:

• $325,000+ can be invested in a share in a government-approved real estate project;

• $325,000+ can be invested in a condominium unit designed as an Approved Private Home;

• $600,000+ can be invested in a single-family private dwelling designed as an Approved Private Home.

Investors can sell purchased property 7 years after obtaining St Kitts and Nevis citizenship.

Türkiye citizenship is granted in exchange for a minimum investment of $400,000 contributed to real estate. Investors can buy one or several private or commercial properties, but purchasing shares is not allowed. The purchase of real estate is the most popular option among applicants for a Türkiye passport.

A sum of at least $500,000 is required for the following options:

• business investment;

• bank deposit;

• purchase of government bonds;

• purchase of investment fund units.

All the investment options are refundable after 3 years.

Vanuatu’s Citizenship by Investment program is the fastest in the world. Foreigners can obtain a passport in as little as one month; however, depending on their situation, the process may be extended to four months.

Two options are available for investors:

• contribution to the state fund—$130,000+;

• purchase of shares of the CNO Future Fund holding company—$157,000+.

The contribution to the state fund is non-refundable. Those investing in the CNO Future Fund can return their money in 5 years with a 5% profit.

1. The passport acquisition process takes time. Even though obtaining citizenship by investment is much faster than naturalisation, it still requires at least several months. For instance, in the Caribbean states, the process takes 6 or more months, while in Türkiye, it takes at least 8 months.

Therefore, waiting until a crisis breaks out is risky, as in a critical situation, you cannot obtain the passport promptly.

For example, when Russia announced mobilisation in 2022, people tried to leave the country as quickly as possible. Only those with a second passport could do so. For others, opportunities were limited, and they had to live in fear of being conscripted into the army.

2. Citizenship by investment programs can be closed. Several countries have shut down or significantly altered their CBI programs. For example, due to EU concerns, Cyprus discontinued its citizenship by investment program in 2020, leaving potential investors without this option. More recently, the UK ended its Tier 1 Investor Visa in 2022, and Spain is about to close its Golden Visa in April 2025.

Caribbean states have increased their minimum investment amounts and tightened requirements. After the events of 2022, they no longer accept applications from Russia and Belarus citizens.

The CBI programs in the Caribbeans, Türkiye, and Vanuatu are currently still open for EU citizens, and the conditions are relatively affordable. Acting now ensures you secure second citizenship before policies change.

3. Having second citizenship reduces stress. Individuals with a second passport have more mobility and security during global crises. For instance, many Ukrainians with EU passports could relocate to the EU easily when the war began.

If something happens in the European Union, dual nationals can move to safer places, such as the Caribbean states, and wait till the situation stabilises.

Even if the worst-case scenario does not happen, the moment you register for citizenship and wait for your passport, you will feel relief from having prepared a backup plan.

To apply for citizenship by investment, it is advisable to address immigration companies, such as Immigrant Invest. Working with a trusted agent helps reduce the risks of refusal and makes the entire process of obtaining a second passport smooth and simple.

Immigrant Invest has been operating since 2006 and has helped thousands of foreigners obtain residency and citizenship by investment worldwide. They are chosen for the following reasons:

• extensive expertise;

• personalised approach;

• in-depth consultations;

• professional guidance throughout the entire process;

• easy accessibility.

Extensive expertise. Immigrant Invest lawyers possess in-depth knowledge of various investment migration programs and closely monitor legislative updates and policy changes. With international accreditations and direct government licences, Immigrant Invest ensures a smooth and legally compliant process for every client.

Personal approach. Each case is approached individually, considering the client’s nationality, family situation, budget, and personal goals—whether for business expansion, global mobility, security, or tax optimisation. The company’s experts carefully assess each client’s needs to recommend the most suitable program.

In-depth consultation. Immigrant Invest invites potential clients to schedule a consultation with its experts. During this initial session, the client’s situation is carefully analysed, all questions are addressed, and a personalised action plan is developed.

Professional guidance during the entire process. Immigrant Invest handles the entire application process, allowing clients to avoid bureaucratic complexities and potential errors. The services provided include:

• personalised selection of the optimal investment program;

• legal verification and preparation of all required documents;

• direct coordination with government authorities;

• assistance with investment transactions, such as real estate purchases.

After obtaining second citizenship, Immigrant Invest continues to assist clients with post-migration services, including bank account setup, integration support, and passport renewals.

Easy accessibility. Immigrant Invest has offices in the EU—in Malta, Portugal, and Hungary —meaning clients might not need to travel to another country to consult experts in person. During the application process, investment migration experts and lawyers remain in contact and promptly answer arising questions.

1. Citizenship by investment offers a fast path to citizenship in another country, helping to avoid economic and political instability in the EU.

2. Countries offering citizenship by investment include Caribbean nations, Türkiye, and Vanuatu.

3. The investment threshold in the Caribbean countries is $200,000. In Türkiye, applicants must contribute at least $400,000. The minimum investment in Vanuatu is $130,000.

4. Foreigners obtaining second citizenship can benefit from an opportunity to protect their families, financial security, tax optimisation, access to new markets, and general peace of mind.

5. Obtaining second citizenship by investment takes several months, and countries may tighten the program’s conditions. Therefore, starting the process as soon as possible before the situation worsens is essential.